India is now 5th largest military spender

Ajay Banerjee

Tribune News Service

New Delhi, April 24

India is now the world's fifth largest spender on defence for 2016 after having moved up from the 7th place following its largest annual military spending increase since 2009. 

While India spent $55.9 billion in 2016, its northern neighbor China — the second largest spender — did four times more at $215 billion. Pakistan does not figure in the top 15 spenders.

The rankings were released today morning by Swedish think-tank Stockholm International Peace Research Institute (SIPRI). Titled 'Trends in world Military expenditure, 2016', the report said India spent $ 55.9 billion on defence in 2016 which was 2.5 per cent of its gross domestic product (GDP).

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India also spent 3.3 per cent of global spending which stood at $1,686 billion in 2016 or is estimated at $227 per person globally.

“China had by far the highest military spending in the region (Asia-Oceania): an estimated $215 billion, or 48 per cent of the regional spending. This amount is almost four times that of India's total, which is the second largest in the region at $55.9 billion,” the report said. Rather China's spend is much greater than the collective spend of $138.8 billion of India, Japan ($46.1 billion) and South Korea ($36.8 billion).

Between 2007 and 2016, China has seen the biggest growth in military spending, with an increase of 118 per cent, followed by Russia (87 per cent) and India (54 per cent), the report said. The US is the top spender at $611 billion. Russia is third at $69.2 billion and Saudi Arabia fourth at $ 63.7 billion.

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